Cycloramic hits top of App Store after Shark Tank appearance, $500k investment & 100k downloads in an hour
What happens when your app gets featured on ABC’s Shark Tank, the TV show where rich investors listen to pitches from wannabe entrepreneurs looking to raise funds? For app developers Egos Ventures it means shooting up hundreds of spots on the App Store charts to become the top paid app in the store overnight. The developers behind the hands-free panorama app called Cycloramic were able to capture a $500k investment from two of the Sharks on last night’s episode. We spoke to the developer who appeared on the show last night, Bruno Francois, to find out a little about the experience and get some stats on downloads following the investment.
We first told you about Cycloramic back in 2012. It was the first app (and the only) capable of taking hands-free 360-degree video by using the iPhone’s built-in vibration motors to spin the device. The developers had interest from all of the Sharks and ended up taking a $500K investment at a valuation of over $3M — even more than the company was asking for initially. You’ll notice Bruno tells the Sharks that the app has around 600k downloads in the clip above. Since filming the episode and getting the investment back in June, the app is now at more than 8 million downloads not including the influx of downloads following the episode airing last night. It appears that the Shark’s investment is paying off.
